Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Tuesday, February 14, 2012

JP Morgan Chase (JPM) - technical analysis

JP Morgan made a double bottom in the autumn of 2011 and managed to break above the base level at $36.63 a few weeks ago.

The classic target of a double bottom is in the $45.00 area but an eventual break below the current support at $36.63 will invalidate, at least for the moment, the target.

The most concerning clue that is against the bullish move is the descending volumes in the last months.